Ligan_(basketball)

Ligan (basketball)

Ligan is the premier league for basketball in Sweden. The league was originally established in 1992 as Basketligan and was known as that prior to the season of 2006/2007, but when the Swiss company Obol Investment signed an agreement with the Swedish Basketball Federation in early October of 2006, the league was renamed Obol Basketball League (OBL). In January 2007 the name was changed to Ligan, meaning simply the League.

Name change

On October 6, 2006 the Swedish Basketball Federation signed a 15-year agreement with Swiss company Obol Investment. Part of the deal was that Basketligan would be renamed Obol Basketball League. Other parts of the deal include that the winning team would receive prize money if the team were to play in the Euroleague during the following season. The agreement lasts for 15 years, but after five years Obol would make an evaluation and have the rights to then cancel the deal, if they so wish.

On January 15, 2007 Obol informed readers on their web page that "Obol Investment Concept is declared in liquidation. For further questions clients are instructed to contact Dundee Securities Corporation." This was hardly surprising given that front figure Bo Johansson has not showed up to straighten out legal issues with Finansinspektionen, the Swedish financial supervisory authority. In fact, Bo Johansson already had disappeared at the end of 2006 when "Basketligan", the basketball team Plannja Basket, and the ice hockey team Luleå Hockey terminated their contracts with Obol after not having received sponsorship funds.